Faith And Burning Desire In The Southland

A realtors site has some fresh numbers for two areas in California. "'Buyers might be a little more thoughtful, a little more hesitant than a year ago before they agree to buy a home or condo,' said Mike Davis, president of the Association’s Santa Clarita Valley Division, 'but they are not waiting very long, they still have great faith in the market and most buyers are driven by a burning desire to own a home in the Santa Clarita Valley.'" "The active inventory stood at 1,123 listings at the end of September, down 14.3 percent from a year ago, but up 32.7 percent over the August 2005 tally. Pending escrows, a measure of future resale activity, fell 7.7 percent from the figure reported a year ago." The San Fernando Valley, "There were 3,957 active listings at the end of August, up 24.9 percent from the August total. The 3,957 listings at the end of September were more than double the 1,575 record low inventory of January 2004." "The median price of the 1,182 homes that changed owners last month was $590,000, $10,000 lower than the record high of $600,000 set this July. The 1,399 pending sales reported at the end of September were down 14.8 percent from a year ago and off 18.0 percent from August." "Jim Link, the of the 10,600-member Southland Regional Association of Realtors. 'Everyone sees that interest rates have moved off historical lows and many prospective buyers who have been waiting may jump into the market before rates move any higher,' Link said, 'it’s typical for activity to pick up when buyers see that rates are moving higher.'"